WOOL PRICES NEED TO RISE TO COVER COSTS

18 May 2018

WOOL PRICES NEED TO RISE TO COVER COSTS

With the wool season about to commence, and farmers beginning the first of the shearing, IFA National Sheep Chairman Sean Dennehy has said wool prices need to rise significantly to cover the costs and work associated with shearing.

Sean Dennehy said some wool merchants have said that they are prepared to offer up to 60c/kg to get volumes of wool, while most seem to trying to offer 50-55 c/kg. He said scotch wool is being offered as low as 40 c/kg.

The IFA Sheep Chairman said at the last Bradford sale in the UK on May 8th there was a 97% clearance and the index price up 3%. The British Wool Board reported all wool types were slightly dearer, with the carpet type wool selling particularly well. Welsh Mountain wool has advanced by up to 7.5%, albeit from a low base.